Supermarket CEOs say grocery stores are over, but also grocery stores are thriving
If “pontificating CEOs” might be taken as a sign of a return to normalcy in the grocery industry, we may have turned a corner. This week marked a flurry of takes from high up in the executive offices of Kroger and Whole Foods, claiming grocery shopping is here to stay (what?) and also that grocery stores are over (thanks, Amazon). Speaking to CNBC, Kroger CEO Rodney McMullen predicted that home cooking is the new normal, adding that people have learned to cook and “really enjoy it.” Over at The Wall Street Journal, Whole Foods CEO John Mackey is betting people will be eager to continue purchasing groceries online. Take that with a massive grain of salt: Whole Foods, which was acquired by Amazon in 2017, has invested heavily in delivery-only shoppers, going so far as to open up a fulfillment center in Brooklyn to bypass the in-store experience entirely.